This is a difficult crypto winter
The current correction is severe to say the least.
It reminds me of 2017 crypto winter, it was very hard to say the least.
The current hard times are no different except they appear a lot more harder and difficult.
For one this time round a lot more people are exposed to crypto.
Not only that even institutions have installed into crypto.
The hard part is that we are living in difficult times on account of the pandemic on one side and financial uncertainties in the other side.
There may be a number of reasons for this crash whatever the cause the results can go far and wide.
Crypto and specially Bitcoin was touted as a safe haven which performed better than equities.
However the current correction had taken crypto to a state of free fall.
Bitcoin is not performing better than gold
Bitcoin was considered to be a safe asset and people took it ti be a safe investment despite its volatility.
It is quite alarming to see this decoupling and bitcoin has started doing badly.
it is not the first such correction
Bitcoin and other cryptos have been quite volatile. It is a known fact that the bitcoin charts have seen severe corrections and seen a lot of ups and downs.
So would Bitcoin and other cryptos recover?
Hopefully in due course of time it would. However if people held on to their holdings long enough they may even make money.
However leveraged traders would have been butchered.
What about those who had put in their retirement funds into crypto. Would they exit at suh low levels or would they hold on to the crypto gold till it shines ones again.
It is a sad scene
It looks a difficult situation because more than anything Bitcoin and crypto gives one a hope of a better future.
When govt.s fail you and the central banks take away your buying power . it is the crypto space that gives you hope for a better future.
A hope that we human cling on to that
In the end it will all be well and if not then it is not the end
Let us see how things pan out this time and how many of us can survive these difficult times.
In crashes like this it is the retail investor who gets hurt the most.
so very true
so many people get right at the top and have no way out
that is sad but true
Crypto is acting like "the Great Attractor" !
Posted Using LeoFinance Beta
Hope it resumes playing that role :)
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